Copper to $2?
In the chart below copper appears to be breaking down from a multi-year flag pattern formed by lines (1) and (2) this week.
Line (2) represents the top end of what appears to be a historical channel, with line (3) representing the parallel, symmetrical support zone of that channel.
Historically, when copper has traded within this channel, per the red/green arrows in 2008/2009, it has tended to make hard and fast moves.
Will the same occur again now that it’s re-entered, with a move down to $2 at line (3) likely?